Report points to recovery in towns economy

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A new economic report has revealed positive statistics for the first half of the year in Chorley.

From January to June there were 313 new company formations - more than any other year on record and a four per cent rise on the same period in 2012.

In addition, company closures fell by eight per cent over the first half of the year, leading to a substantial rise in net company growth – the number of company formations minus the number of company closures.

However, the Duport report shows a fall in the number of female director appointments and young director appointments over this period.

The latest Duport Business Confidence Report is from company formation specialists Duport.co.uk

MD Peter Valaitis said: “Our latest report shows a number of encouraging signs for the Chorley economy. More new companies suggest rising business confidence and a fall in closures suggests trading conditions are improving after a difficult period.”

Responding to the report, Coun Alistair Bradley, leader of Chorley Council, said: “We specifically targeted the business sector as one of our main priorities to help strengthen the local economy.

“As part of this, we pledged to support existing businesses in the town and to help new businesses to start up and we are delighted that the measures we’ve set in place so far are proving so successful.

“Those measures include appointing two specialist business advisors to offer free help, advice and support to new and existing businesses; developing a grant programme including the Chorley BIG (Business Investment for Growth) grant; launching a Choose Chorley Business Network; organising free workshops for people interested in setting up a business; and offering other free workshops to help people make the most of their businesses.

“I would urge any business, or anyone thinking of starting up in business, to contact us on 01257 515151 to find out just how we can help.”

Malcolm Allen, chairman of the Chorley Traders’ Alliance, said: “We’ve got more new businesses starting in the town centre.

“And with the rise of the markets this year we’ve got more people coming into town to start businesses. The market is bringing people in from other towns who do repeat visits when they see what we have to offer.

“Going forward, the large company stores we did have that have fallen by the wayside have left us to what we are good at, with independent stores, markets and one or two of the bigger stores.

“The council incentives for new businesses has helped and the reopening of Market Street will bring an old fashioned market town feel where you can park up and go

shopping.”